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Australian (ASX) Gold Industry Analysis

UpdatedApr 14, 2026
DataAggregated Company Financials
Companies154
  • 7D6.9%
  • 3M-6.8%
  • 1Y48.7%
  • YTDn/a

The Gold industry is up 6.9% in the last week, with Northern Star Resources up 9.5%. Meanwhile, Meeka Metals actually underperformed within the industry, shrinking 5.9% in the last week. This means that the industry has gained 49% over the past year. As for the next few years, earnings are expected to grow by 26% per annum.

Industry Valuation and Performance

Has the Australian Gold Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 14 Apr 2026AU$161.9bAU$32.3bAU$6.6b15.9x24.5x5x
Thu, 12 Mar 2026AU$172.0bAU$31.1bAU$6.2b25.2x27.6x5.5x
Sat, 07 Feb 2026AU$167.4bAU$26.3bAU$4.6b28.6x36.8x6.4x
Mon, 05 Jan 2026AU$162.7bAU$26.4bAU$4.6b26.1x35.6x6.2x
Wed, 03 Dec 2025AU$153.2bAU$26.5bAU$4.6b25.3x33.5x5.8x
Fri, 31 Oct 2025AU$135.3bAU$26.4bAU$4.6b24.1x29.5x5.1x
Sun, 28 Sep 2025AU$133.7bAU$26.3bAU$4.7b18.8x28.6x5.1x
Tue, 26 Aug 2025AU$109.8bAU$25.0bAU$4.5b16.9x24.2x4.4x
Thu, 24 Jul 2025AU$102.0bAU$22.1bAU$3.1b17.9x33x4.6x
Sat, 21 Jun 2025AU$102.7bAU$22.3bAU$3.1b19.1x33.3x4.6x
Mon, 19 May 2025AU$95.3bAU$22.4bAU$3.1b20.2x30.7x4.3x
Wed, 16 Apr 2025AU$95.4bAU$22.2bAU$3.0b19x31.3x4.3x
Fri, 14 Mar 2025AU$79.5bAU$22.1bAU$3.0b18.6x26.5x3.6x
Sun, 09 Feb 2025AU$82.1bAU$18.6bAU$1.8b20.3x44.7x4.4x
Tue, 07 Jan 2025AU$70.9bAU$18.6bAU$1.8b21.1x39.1x3.8x
Thu, 05 Dec 2024AU$72.3bAU$18.6bAU$1.8b21x39.9x3.9x
Sat, 02 Nov 2024AU$77.5bAU$18.4bAU$1.8b23.6x43x4.2x
Mon, 30 Sep 2024AU$70.2bAU$18.3bAU$1.8b22.1x38x3.8x
Wed, 28 Aug 2024AU$65.2bAU$17.5bAU$1.4b20.7x47.9x3.7x
Fri, 26 Jul 2024AU$60.5bAU$16.1bAU$1.1b22.9x55.6x3.8x
Sun, 23 Jun 2024AU$57.6bAU$16.1bAU$1.1b20.3x53x3.6x
Tue, 21 May 2024AU$61.8bAU$17.1bAU$1.2b23.4x52.2x3.6x
Thu, 18 Apr 2024AU$58.6bAU$17.2bAU$1.2b23.2x48.6x3.4x
Sat, 16 Mar 2024AU$52.2bAU$16.8bAU$1.3b19.5x40.6x3.1x
Mon, 12 Feb 2024AU$48.8bAU$15.3bAU$279.1m22.8x175x3.2x
Wed, 10 Jan 2024AU$74.0bAU$22.9bAU$1.3b23.1x55x3.2x
Fri, 08 Dec 2023AU$74.5bAU$22.9bAU$1.3b23.5x55.2x3.3x
Sun, 05 Nov 2023AU$69.6bAU$22.8bAU$1.3b22.1x52.1x3x
Tue, 03 Oct 2023AU$66.2bAU$23.0bAU$1.4b22.1x48.9x2.9x
Thu, 31 Aug 2023AU$70.8bAU$22.7bAU$1.2b19.4x59.1x3.1x
Sat, 29 Jul 2023AU$69.9bAU$22.3bAU$551.1m18.1x126.8x3.1x
Mon, 26 Jun 2023AU$67.2bAU$22.3bAU$553.8m16.7x121.4x3x
Wed, 24 May 2023AU$71.1bAU$22.4bAU$587.5m18.6x120.9x3.2x
Fri, 21 Apr 2023AU$75.9bAU$22.2bAU$570.6m18.6x133.1x3.4x
Price to Earnings Ratio

133.1x


Total Market Cap: AU$75.9bTotal Earnings: AU$570.6mTotal Revenue: AU$22.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Gold Industry Price to Earnings3Y Average 57.6x202420252026
Current Industry PE
  • Investors are pessimistic on the Australian Gold industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 24.5x which is lower than its 3-year average PE of 57.6x.
  • The 3-year average PS ratio of 4.0x is lower than the industry's current PS ratio of 5.0x.
Past Earnings Growth
  • The earnings for companies in the Gold industry have grown 126% per year over the last three years.
  • Revenues for these companies have grown 13% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does Australian Gold compare with similar industries?

AU Market3.84%
Materials5.43%
Metals and Mining5.65%
Gold6.94%
Diversified Metals and Mining6.25%
Copper3.18%
Precious Metals and Minerals1.42%
Silver1.34%
Steel1.21%
Aluminum-1.25%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
NST Northern Star ResourcesAU$23.977.2%
+AU$2.3b		10.1%PE22.2x
GGP Greatland ResourcesAU$14.548.8%
+AU$794.0m		n/aPE15.2x
EVN Evolution MiningAU$13.193.0%
+AU$772.0m		60.7%PE20.2x
GMD Genesis MineralsAU$6.416.3%
+AU$434.1m		58.3%PE18.3x
ALK Alkane ResourcesAU$1.8317.4%
+AU$368.9m		148.3%PE29.4x

Latest News

ALK
AU$1.83
Alkane Resources
7D
17.4%
1Y
148.3%
WWI
AU$0.64
West Wits Mining
7D
-1.5%
1Y
220.0%
GGP
AU$14.54
Greatland Resources
7D
8.8%
1Y
n/a
TTM
AU$0.79
Titan Minerals
7D
-1.3%
1Y
113.5%
RRL
AU$7.25
Regis Resources
7D
5.8%
1Y
61.5%
VAU
AU$4.52
Vault Minerals
7D
7.4%
1Y
54.5%
EVN
AU$13.19
Evolution Mining
7D
3.0%
1Y
60.7%

EVN: Higher Metal Price Assumptions Will Support Dividend And Earnings Resilience

Analysts have lifted the price target on Evolution Mining to A$14.50 from A$9.90, citing updated commodity price decks, higher long-term metal price assumptions and a shift in sector views that now place the stock at or near sector perform or hold ratings. Analyst Commentary Recent research shows a clear shift in how the street is framing Evolution Mining, with several bullish analysts revisiting their assumptions on metal prices and risk, then feeding those changes into updated valuation work.
WGX
AU$6.47
Westgold Resources
7D
5.0%
1Y
111.4%

WGX: Expansion Decision And Index Inclusion Will Support Future Re Rating

Analysts have raised their price target for Westgold Resources to A$8.91 from A$3.76, citing updated assumptions for the discount rate, revenue growth, profit margins and future P/E that together change the assessment of the stock’s fair value. What's in the News Board approves Final Investment Decision to expand the Higginsville Processing Hub from 1.6 Mtpa to a nominal 2.6 Mtpa, following a Definitive Feasibility Study with capital and operating cost accuracy in the range of 5% to 15% (company announcement).
NST
AU$23.97
Northern Star Resources
7D
7.2%
1Y
10.1%

NST: Higher Long Term Gold Pricing Is Expected To Support Upside

Analysts lifted their price target for Northern Star Resources to A$35 from A$30, citing updated long-term commodity price assumptions for gold and other metals as the main reason for the change. Analyst Commentary Recent research points to revised long term commodity price assumptions for gold and other metals as a key driver behind the higher A$35 price target for Northern Star Resources, compared with the prior A$30 level.
GPR
AU$0.05
Geopacific Resources
7D
-3.8%
1Y
138.1%
KAU
AU$0.26
Kaiser Reef
7D
-7.3%
1Y
41.7%
SMI
AU$0.67
Santana Minerals
7D
-3.6%
1Y
30.1%
GMD
AU$6.41
Genesis Minerals
7D
6.3%
1Y
58.3%
TM1
AU$0.29
Terra Metals
7D
-9.4%
1Y
935.7%
NMG
AU$0.048
New Murchison Gold
7D
-4.0%
1Y
182.4%
MEK
AU$0.16
Meeka Metals
7D
-8.6%
1Y
0%